$KTCC
KEY TRONIC CORP

2012 Q4 Form 10-Q Financial Statement

#000071973313000005 Filed on February 06, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q4
Revenue $78.25M $84.45M
YoY Change -7.35% 33.33%
Cost Of Revenue $85.07M $77.59M
YoY Change 9.65% 35.17%
Gross Profit $6.950M $5.005M
YoY Change 38.86% -16.16%
Gross Profit Margin 8.88% 5.93%
Selling, General & Admin $2.939M $2.916M
YoY Change 0.79% 21.5%
% of Gross Profit 42.29% 58.26%
Research & Development $1.225M $1.157M
YoY Change 5.88% 28.56%
% of Gross Profit 17.63% 23.12%
Depreciation & Amortization $660.0K $573.0K
YoY Change 15.18% 8.11%
% of Gross Profit 9.5% 11.45%
Operating Expenses $4.164M $4.073M
YoY Change 2.23% 23.42%
Operating Profit $5.332M $2.795M
YoY Change 90.77% 4.68%
Interest Expense $92.00K $124.0K
YoY Change -25.81% -224.0%
% of Operating Profit 1.73% 4.44%
Other Income/Expense, Net
YoY Change
Pretax Income $2.350M $1.512M
YoY Change 55.42% -40.75%
Income Tax $1.661M -$503.0K
% Of Pretax Income 70.68% -33.27%
Net Earnings $3.114M $1.247M
YoY Change 149.72% -28.42%
Net Earnings / Revenue 3.98% 1.48%
Basic Earnings Per Share $0.30 $0.12
Diluted Earnings Per Share $0.27 $0.30
COMMON SHARES
Basic Shares Outstanding 10.53M shares 10.45M shares
Diluted Shares Outstanding 11.35M shares 10.48M shares

Balance Sheet

Concept 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $300.0K
YoY Change -33.33% -78.57%
Cash & Equivalents $245.0K $596.0K
Short-Term Investments
Other Short-Term Assets $6.422M $8.100M
YoY Change -20.72% -8.99%
Inventory $49.15M $46.70M
Prepaid Expenses
Receivables $54.80M $48.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $114.4M $103.5M
YoY Change 10.5% 13.49%
LONG-TERM ASSETS
Property, Plant & Equipment $18.28M $14.80M
YoY Change 23.54% -1.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.828M $5.500M
YoY Change -66.76% 14.58%
Total Long-Term Assets $22.13M $20.20M
YoY Change 9.54% 2.02%
TOTAL ASSETS
Total Short-Term Assets $114.4M $103.5M
Total Long-Term Assets $22.13M $20.20M
Total Assets $136.5M $123.7M
YoY Change 10.35% 11.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.67M $32.60M
YoY Change -2.86% 16.43%
Accrued Expenses $5.300M $3.700M
YoY Change 43.24% -5.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $800.0K
YoY Change -12.5% 700.0%
Total Short-Term Liabilities $41.73M $40.20M
YoY Change 3.82% 11.67%
LONG-TERM LIABILITIES
Long-Term Debt $4.700M $11.30M
YoY Change -58.41% 1.8%
Other Long-Term Liabilities $1.076M $5.900M
YoY Change -81.76% 227.78%
Total Long-Term Liabilities $7.272M $17.20M
YoY Change -57.72% 33.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.73M $40.20M
Total Long-Term Liabilities $7.272M $17.20M
Total Liabilities $49.01M $58.50M
YoY Change -16.23% 19.88%
SHAREHOLDERS EQUITY
Retained Earnings $44.22M
YoY Change
Common Stock $42.91M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.49M $65.20M
YoY Change
Total Liabilities & Shareholders Equity $136.5M $123.7M
YoY Change 10.35% 11.44%

Cashflow Statement

Concept 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $3.114M $1.247M
YoY Change 149.72% -28.42%
Depreciation, Depletion And Amortization $660.0K $573.0K
YoY Change 15.18% 8.11%
Cash From Operating Activities $6.400M -$5.787M
YoY Change -210.59% -23.25%
INVESTING ACTIVITIES
Capital Expenditures -$1.480M $396.0K
YoY Change -473.74% -125.22%
Acquisitions
YoY Change
Other Investing Activities $140.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.330M -$396.0K
YoY Change 235.86% -74.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $169.0K
YoY Change
Cash From Financing Activities -6.620M $5.298M
YoY Change -224.95% -45.66%
NET CHANGE
Cash From Operating Activities 6.400M -$5.787M
Cash From Investing Activities -1.330M -$396.0K
Cash From Financing Activities -6.620M $5.298M
Net Change In Cash -1.550M -$885.0K
YoY Change 75.14% -234.09%
FREE CASH FLOW
Cash From Operating Activities $6.400M -$5.787M
Capital Expenditures -$1.480M $396.0K
Free Cash Flow $7.880M -$6.183M
YoY Change -227.45% 3.57%

Facts In Submission

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CY2012Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1413000 USD
CY2011Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
222000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-4091000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1023000 USD
CY2012Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-209000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-2100000 USD
CY2011Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
115000 USD
CY2012Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-110000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
500000 USD
CY2012Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3163000 USD
CY2012Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3989000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1076000 USD
CY2012Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2945000 USD
CY2012Q2 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
729000 USD
CY2012Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
749000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
75000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2215000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2765000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
144000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
57797000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
53865000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
128000 USD
CY2012Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
60000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
0 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17306000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18284000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-111000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
22000 USD
CY2012Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
54797000 USD
CY2012Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
60709000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
68077000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
52382000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
359000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
339000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2113000 USD
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1225000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2475000 USD
CY2011Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1157000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
36895000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
44218000 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
94567000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
192075000 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
84454000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
154215000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5468000 USD
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2939000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5350000 USD
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2916000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
425000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6490
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6650
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6550
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0116
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0046
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0052
CY2011Q4 ktcc Number Of Weeks In Quarter
NumberOfWeeksInQuarter
P13W
CY2012Q4 ktcc Number Of Weeks In Ytd
NumberOfWeeksInYtd
P26W
CY2012Q4 ktcc Total Other Assets Non Current
TotalOtherAssetsNonCurrent
3843000 USD
dei Amendment Flag
AmendmentFlag
false
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2012Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
47500 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
7500 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
425000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
87491000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
78608000 USD
us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
-103000 USD
us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
0 USD
CY2012Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
5400000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2900000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
300000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-183000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2012Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2011Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-183000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10864000 shares
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10899000 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10479000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10462000 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10489000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10432000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10487000 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10447000 shares
CY2012Q2 ktcc Discounted Cash Flow Revolving Line Of Credit Estimated
DiscountedCashFlowRevolvingLineOfCreditEstimated
15000000 USD
CY2012Q4 ktcc Discounted Cash Flow Revolving Line Of Credit Estimated
DiscountedCashFlowRevolvingLineOfCreditEstimated
4700000 USD
CY2012Q4 ktcc Federal Funds Rate Plus Percentage
FederalFundsRatePlusPercentage
0.015
ktcc Income Tax Reconciliation Foreign Currency Translation Changes
IncomeTaxReconciliationForeignCurrencyTranslationChanges
-151000 USD
ktcc Income Tax Reconciliation Foreign Currency Translation Changes
IncomeTaxReconciliationForeignCurrencyTranslationChanges
-57000 USD
CY2012Q4 ktcc Income Tax Reconciliation Foreign Currency Translation Changes
IncomeTaxReconciliationForeignCurrencyTranslationChanges
10000 USD
CY2011Q4 ktcc Income Tax Reconciliation Foreign Currency Translation Changes
IncomeTaxReconciliationForeignCurrencyTranslationChanges
106000 USD
ktcc Maximum Amount Of Income Tax Benefits Percentage Realized Upon Ultimate Settlement
MaximumAmountOfIncomeTaxBenefitsPercentageRealizedUponUltimateSettlement
0.5
ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
12200000 USD
ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
10600000 USD
CY2012Q4 ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
10600000 USD
CY2011Q4 ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
3600000 USD
CY2012Q4 ktcc Number Of Weeks In Quarter
NumberOfWeeksInQuarter
P13W
CY2011Q4 ktcc Number Of Weeks In Ytd
NumberOfWeeksInYtd
P26W
CY2012Q4 ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
5700000 USD
CY2011Q4 ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
4000000 USD
ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
8200000 USD
ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
11200000 USD
CY2012Q2 ktcc Total Other Assets Non Current
TotalOtherAssetsNonCurrent
4116000 USD
dei Document Period End Date
DocumentPeriodEndDate
2012-12-29
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000719733
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
10488856 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
KEY TRONIC CORP
dei Trading Symbol
TradingSymbol
ktcc

Files In Submission

Name View Source Status
0000719733-13-000005-index-headers.html Edgar Link pending
0000719733-13-000005-index.html Edgar Link pending
0000719733-13-000005.txt Edgar Link pending
0000719733-13-000005-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
ktcc-12292012x10q.htm Edgar Link pending
ktcc-20121229.xml Edgar Link completed
ktcc-20121229.xsd Edgar Link pending
ktcc-20121229_cal.xml Edgar Link unprocessable
ktcc-20121229_def.xml Edgar Link unprocessable
ktcc-20121229_lab.xml Edgar Link unprocessable
ktcc-20121229_pre.xml Edgar Link unprocessable
q22013exhibit311.htm Edgar Link pending
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